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Nokia has been slowly losing the race as Apple and even companies like Motorola and Samsung to an extent have adapted to the smartphone game. The Espoo, Finland based company is yet to launch a comprehensive iPhone-rival – a failure that appears to have cost the current Nokia CEO, Olli-Pekka Kallasvuo, his job.

According to reports on the Wall Street Journal, the company is seriously looking at an alternative and a replacement could be announced as early as the end of this month. The company spokesperson decline to comment on this issue.

The news has been received by cautious optimism at the markets. The ADRs of Nokia Corporation (NYSE:NOK) have risen by 0.17 points in the hours preceding the market opening. That is a modest rise of 1.93%. While the board’s decision to replace the Kallasvuo may be a move in the right direction, it is not clear what’s exactly ailing the market leader.

What are your views? Where do you think Nokia is lagging? Design& Development? Market research? Promotion? Or all of them? Tell us in the comments.